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Andrew Lockwood Trading Cheat Sheet
NAKED TRADING STRATEGY CHEAT SHEET Includes complete entry and exit checklist for a winning swing trading strategy
Before We Start Find Out More About Me
Andrew Lockwood Who is Andrew? Andrew is a 30-year Financial Market veteran who started his trading career back in the London Futures and Options Exchange in the ‘90s. Since then, he has been trading the Forex Markets profitably for almost 20 years, and uses his experience to educate thousands of students from around the world inside the ForexSignals.com trading room. In this cheat sheet I am going to show you this strategy and at the end, as a BONUS, I have a live webinar you can join me in. In the webinar I'll show you how to execute this strategy but first, make sure you read this cheat sheet and get your head round the basics.
The Strategy Overview SWING TRADING FROM THE SCREENS
Swing Trading in Forex is critical to how I make money in the markets daily. Once you have learnt the strategy and rules, the actual time spent finding these simple setups is all done at the end of the day! Many of my students call it ‘stress-free trading’!
79% WINNING RATE
28 MARKETS TRADED
130 AVERAGE PIPS
10
MINUTES A DAY
With the help of our propriety tool, I spend less than 10 minutes a day identifying winning trades. Intrigued? Good. Let’s get to it.
Watch, Learn & Profit Together INTRODUCTION I’m going to demonstrate how to trade with less stress, less time and be more profitable. Successful trading doesn’t have to be complicated or mean spending a long time in front of the screen. This a high probability strategy that works on a daily time frame that’s going to result in less screen time than you ever thought possible. It will blow your mind with how simple and easy to understand this strategy is and also how profitable it can be. I will break it down into simple, easy to digest chunks, and aim to remove all the guesswork and uncertainties that often lead to an emotional car crash that many end up in when they start learning to trade for the first time. This strategy removes all the confusing indicators, it strips trading down to the bones, hence the name ‘naked strategy’. Once you understand what you’re looking for, this strategy will take you less than 10 minutes a day to analyse. That’s right, 10 minutes!
99% of traders fail. We are in the top 1% WHAT TO LOOK FOR
We will cover the powerful price action, the candlestick patterns that we look for, how to accurately draw support and resistance and we’re going to give you the exact rules of entry and exit. CANDLESTICK PATTERN
Firstly, a crash course in candlesticks and the candlestick patterns that we’re looking for so we start on the same page. These are the Japanese candlesticks and they were invented over 200 years ago by the Japanese rice traders.
ANATOMY OF CANDLESTICK
CANDLESTICK PATTERNS
Candlestick Trading Explained I will now briefly explain what we mean by support and resistance, support and resistance are horizontal lines drawn on a price chart where price is respected and generally reversed in the past on one or more occasions. We use support and resistance in conjunction with price action signals such as the pin bars and the engulfed in patterns. They can be very powerful in predicting the turning points of a market, and this is the very basis of our naked trading strategy.
RULES OF ENTRY
RULES OF EXIT
Look for key turning points using your support and resistance. We need to enter, long or short, at the base of the candle patterns, whether it is bearish/bullish engulfing or bearish/bullish pin bar. We like to give it a bit of a buffer three to five pips from the base of the candlestick pattern.
Look for key turning points using your support and resistance. We need to enter, long or short, at the base of the candle patterns, whether it is bearish/bullish engulfing or bearish/bullish pin bar. Give it a bit of a buffer three to five pips from the base of the candlestick pattern.
“ I'VE SPENT YEARS
BUILDING A RELIABLE TRADING STRATEGY AND FAILED SO MANY TIMES IN THE PROCESS. I AM SHARING MY STRATEGY WITH YOU, SO YOU DON’T MAKE THE SAME MISTAKES. ANDREW LOCKWOOD MENTOR AT FOREXSIGNALS.COM
SAMPLE #1 SET UP Bullish engulfer at daily resistance. Place a pending buy stop order 5 pips above the high of the engulfer and a stop loss 5 pips below the same candle at 0.9530. Take profit target 1 is at the next resistance level at 0.9870 (168 pips). If take profit target 1 is hit, we exit 50% of the trade and move the balance to break even. Take profit target 2 at the next resistance 460 pips. Risk Reward 1.8 to 1.
RESULTS Take profit target 1 and take profit target 2 both hit . Combined profit was 314 pips with a risk reward of 1.8 to 1.
SAMPLE #2 SET UP Enter a pending buy stop order 5 pips above the high on the Bullish pin bar that has formed at support. Stop loss is 5 pips below the pin bar, 94 pips. Take profit target 1 is set at the next resistance level (236 pips). If the take profit target 1 is hit, exit 50% of the trade and move the stop to break even. Take profit target 2 set at the next resistance level, 1.0986 (509 pips).
RESULTS Take profit target 1 and 2 both hit . Combined profit of approximately 370 pips. Almost a 4 to 1 risk reward.
SAMPLE #3 SET UP Bullish pin bar at support. Take profit target 1 is only 100 pips away with a stop at 140 pips. That’s within the rules we defined. We need at least 0.5 risk reward on the first profit target.. Exit half the trade at take profit target 1 and move the stop to break even. Take profit target 2 is at the next resistance for 500 pips.
RESULTS Price takes out take profit target 1 and 2 giving a combined profit of 300 pips. This results in a 2 to 1 risk reward ratio.
SAMPLE #4 SET UP Bearish pin bar at resistance. Take profit target 1 is 105 pips away. Initial stop is the same. If take profit target 1 is hit, we exit half the trade and move the stop to break even. Take profit target 2 is at the next support, 350 pips away.
RESULTS Take profit target 1 and 2 both hit giving a 231 pip gain. A juicy 2.2 to 1 risk reward ratio.
“ HOLDING ON TO
LOSING TRADES BECAUSE OF EMOTION, WILL KILL YOUR TRADING ACCOUNT. LET GO OF YOUR LOSSES.
ANDREW LOCKWOOD MENTOR AT FOREXSIGNALS.COM
SAMPLE #5 SET UP Bearish engulfer at resistance. Enter a sell stop order 5 pips below the low of the engulfing candle with the initial stop loss 5 pips above the engulfing candle. If take profit target 1 is hit, move stop loss to break even. Look for take profit target 2 to which is set at t the next daily support at 1.5810.
RESULTS Take profit target 1 was hit. Exited 50 % of the trade. Stop moved to break even. Price pull back to entry and the remainder 50% was stopped out. 62 pips profit .
SAMPLE #6 SET UP Bullish pin bar at support. Place a pending buy order 5 pips above the high of the candle and a stop 5 pips below the low of the candle. Exit 50% of the trade at the next resistance level and move the stop to break even. Take profit target 2 is set at the next resistance level 1.6498.
RESULTS Both take profit targets hit. Combined gain of 410 pips. A 2.3 to 1 risk reward ratio.
SAMPLE #7 SET UP Price breaks resistance, makes a new high, then closes lower than resistance creating a long pin bar. Enter a sell stop order 5 pips below the bearish pin bar, with a stop loss 5 pips above the pin. If take profit target 1 is hit, we exit 50% of the trade and move stops to break even and head for take profit target 2.
RESULTS Take profit targets 1 and 2 both hit. Total gains approximately 300 pips. A 1.6 to 1 risk reward ratio.
SAMPLE #8 SET UP Bullish pin bar at daily support. Exit trade in two parts. Set the first 50% at the next resistance level and move the stop to break even on the remainder. Take profit target 2 is at the next resistance level at 1.61139.
RESULTS Profit target 1 and 2 both hit . Combined profit over 500 pips with a risk reward ratio of over 2 to 1.
Wrapping Up
Final thoughts...
LET ME HELP YOU
This is a powerful and backtested strategy that I have been using for many years. It is now for you to apply in your trading, test it yourself and maybe even tweak it to match your own trading style and personality. I really want you to understand that - like any other trading strategy - during your trading career you will encounter losing streaks, that is normal. Every trader goes through a losing streak, if it happens to you I suggest that you stick with your strategy, don't get caught up to the “Cycle of Doom”. You can make money trading the forex market, but it’s like any skill or profession, it takes time, hard work and dedication to succeed. The trap many traders fall into is thinking forex trading is a get-rich-quick scheme. It is not.
Want Even More? Join My Free Webinar This strategy has a number of added rules that we use to inform you of what setups you should be taking and which ones you should be avoiding, where to place your entries and of course, where to place your stops. In my free webinar, I will guide you through all of the steps in this cheat sheet and the additional rules you need. It's absolutely free to attend!
INSTANT TRADING CLARITY
In my webinar I'm going to show you: How to apply the strategy in this cheat sheet How to bag huge home-run trades Winning setups in just 10 minutes a day
REAL LIFE SAMPLE CHARTS
FREE
Why complex strategies don't work and simple ones do What I am looking for when taking a trade How to predict the market turning points Learn the exact entry and exit rules
TO ATTEND CLICK HERE TO JOIN MY WEBINAR
Watch, Learn & Profit Together
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